Seniors -and nonprofits- now have another reason to celebrate retirement. A new law allows people 70-and-a-half and older to make tax-free charitable gifts directly from their Individual Retirement Accounts.
IRA charitable gift rollovers can be made retroactively from January 1, 2010 through January 31, 2011 for 2010 tax purposes. For 2011 tax purposes, an additional $100,000 may be contributed between January 1 and December 31, 2011. Donors should consult their financial advisors and IRA administrator for guidelines and information.
For more information, or if you have questions, please contact Kristina Mitten Sanders at 919-828-3876 or [email protected]